RE/MAX Select Properties

There has been a lot of speculation regarding what impact the Olympics will have on the Greater Vancouver real estate market. Opinions vary regarding the effects during, and post-games, but we are now witnessing what is unfolding 2 weeks prior to the event.

 

All indications thus far are that the has been no negative impact on the current market. Information that our associates in our Arbutus St office are communicating is a strong and sturdy market thus far this year. Numbers appear to be up, and we are hearing tales of multiple offers, and robust numbers of Buyers actively looking for properties.

 

The general consensus seems to be that we should expect a slow down in market activity during the games. There will be problematic issues with accessing certain routes, managing showings, and dealing with the distraction of large numbers of visitors and activities in the area during the Olympics. Adjustments need to be made and managed to facilitate the daunting task of entertaining the world.

 

Vancouver west side REALTORS(r) will most likely enjoy a surge of activity once the Olympics are over. There will be an increase in the pent-up demand that already exists in the market. Other factors that will impact on the post-games market include new interest from the global real estate investor; and the rush to enter the real estate market prior to the introduction of the Harmonized Sales Tax in July of 2010.